Bangalore-based infrastructure major GMR Group has offloaded around 44.6 lakh shares it had in Karur Vysya Bank Limited for a total amount of around Rs 178.87 crore through bulk deal in the National Stock Exchange (NSE).
GMR (Grandhi Mallikarjuna Rao) and his group had a total 52.86 lakh shares in Karur Vysya Bank, as per the data filed with the NSE in December, 2012. Meanwhile, Sundaram Mutual Fund has picked up stakes worth Rs 87.3 crore in the company through bulk deals in NSE.
Grandhi Enterprises, a group company of GMR, sold 21,14,330 equity shares in the bank.